Welcome to Velo Protocol's documentation site. Here will help you get up to speed with Velo Protocol, from basic concepts to how to interact with Velo Protocol. No matter you are a developer, a trusted partner, or a blockchain enthusiast, you can learn how's Velo Protocol works here.
Velo is a protocol based on Stellar with the primary aim of helping trusted partners issue price-stable digital credit.
To issue a price-stable credit in Velo protocol, the trusted partner must have VELO token available in their account. In the Testnet phase, VELO is obtainable via faucet. In Mainnet, VELO is obtainable via one of the following channels:
Any price-stable credit that is issued should retain the value equivalent to the currency it is pegged to. See the following diagram as an example,
The amount of VELO token redeemable by the price-stable credit may fluctuate but the total monetary value of exchanged should remain constant.
Velo works based on the concept of the Reserve and Collateral pool. We have a Digital Reserve System (DRS) which helps manage the amount of collateral and reserve being held by Velo.